The Allen/Uzawa elasticity of substitution, still commonly used in the empirical studies to account for net substitutability, has been subject to a number of theoretical criticisms. In this paper we reconsider the Allen/Uzawa elasticity of substitution as a measure of gross substitutability, and show that to this relevant purpose it can be meaningfully interpreted in conjunction with the returns-to-scale properties of the technology.

The Allen/Uzawa Elasticity of Substitution as a Measure of Gross Input Substitutability / P. BERTOLETTI. - In: RIVISTA ITALIANA DEGLI ECONOMISTI. - ISSN 1593-8662. - STAMPA. - 6:1(2001), pp. 87-94.

The Allen/Uzawa Elasticity of Substitution as a Measure of Gross Input Substitutability

BERTOLETTI, PAOLO
2001

Abstract

The Allen/Uzawa elasticity of substitution, still commonly used in the empirical studies to account for net substitutability, has been subject to a number of theoretical criticisms. In this paper we reconsider the Allen/Uzawa elasticity of substitution as a measure of gross substitutability, and show that to this relevant purpose it can be meaningfully interpreted in conjunction with the returns-to-scale properties of the technology.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11571/103186
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